Real Estate Appreciation for Elmira, New York: + 4.32%
Appreciation for MSAs:.
Real Estate Investing is all about property appreciation. Understanding Real Estate Appreication is to a real estate investor what reading a profit and loss is to a corporate CEO. Once you understand appreication and the trends that drive it, you can begin to make better decisions on real estate investing.
- Elmira, New York: + 4.32%
- State of NY: + 15.20%
- Difference: - 71.59%
Elmira-NY
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 1996 | 2 | 102.43 | - 0.58% | - 2.33% |
| 1996 | 3 | 103.79 | + 1.33% | + 5.31% |
| 1996 | 4 | 103.44 | - 0.34% | - 1.35% |
| 1997 | 1 | 98.49 | - 4.79% | - 19.14% |
| 1997 | 2 | 103.59 | + 5.18% | + 20.71% |
| 1997 | 3 | 105.3 | + 1.65% | + 6.60% |
| 1997 | 4 | 104.03 | - 1.21% | - 4.82% |
| 1998 | 1 | 105.75 | + 1.65% | + 6.61% |
| 1998 | 2 | 105.65 | - 0.09% | - 0.38% |
| 1998 | 3 | 105.65 | + 0.00% | + 0.00% |
| 1998 | 4 | 105.34 | - 0.29% | - 1.17% |
| 1999 | 1 | 109.8 | + 4.23% | + 16.94% |
| 1999 | 2 | 105.3 | - 4.10% | - 16.39% |
| 1999 | 3 | 108.6 | + 3.13% | + 12.54% |
| 1999 | 4 | 107.48 | - 1.03% | - 4.13% |
Buying short sale properties is a real buzz right now in real estate. Short sales are created when a property is on the brink of foreclosure and the bank is willing to take a reduced payoff in order to avoid having to foreclose. If you are considering a short sale property chances are you will have to do some rehab and repair to the property. Its very important to analyze all of the historical appreciation data for the area if you are considering buying a property for investment. You can check our historical appreication data for Elmira-NY here. If you do decide to move forward with rehabbing a property and need information on a Rehab Loan in New York, you can do some research at Spec-Loan.com.
If you were going to do a Chemung, New York Refinance, or Chemung, New York Reverse Mortgages, you could estimate your home value.
If you knew your Chemung, New York home was worth $95,000.00 in 1996, you could multiply by + 4.32%, add the gain and see the home should be worth $99,103.17 in 1999. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Elmira-NY from 1996 to 1999:
+ 1.08%
Appreciation Comparisons
The top 5 performing MSAs from 1996 to 1999 were San-Jose-Sunnyvale-Santa-Clara-CA, Santa-Cruz-Watsonville-CA, Barnstable-Town-MA, Denver-Aurora-CO, and Ann-Arbor-MI .
- San-Jose-Sunnyvale-Santa-Clara-CA increased + 52.03% from 1996 to the end of 1999
- Santa-Cruz-Watsonville-CA increased + 42.74% from 1996 to the end of 1999
- Barnstable-Town-MA increased + 33.97% from 1996 to the end of 1999
- Denver-Aurora-CO increased + 33.24% from 1996 to the end of 1999
- Ann-Arbor-MI increased + 31.04% from 1996 to the end of 1999
Zip Code in MSA: 14825 - CHEMUNG, NY
MSA Pop: 90413Zip Pop: 918
Avg Value: 62200
County: CHEMUNG
Elev: 873
Region: Northeast
Lat: 42.047481
Long: -76.61873